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Manufacturing industry is slowly improving, research finds

Research from
the Confederation of Indian Industry-ASCON, which analysed data from the
July-September quarter, has shown that the growth of the manufacturing industry
is starting to improve.

The number of
sectors declaring a growth of more than 10 per cent has reached 39%, in the
September quarter of 2014, up from 26% the year before.

On the other
hand, the percentage of sectors claiming to have grown less than 10% has fallen
to 70% in the September quarter of 2014, from 74% the previous year.

The
Confederation of Indian Industry-ASCON has claimed that growth has occurred in
sectors such as white goods, synthetic fibre, consumer non-durables, machine
tools and rubber machinery.

In the white
goods sector, fridges, air conditioning units and small appliances have grown
at a rate of 12-15%, as a result of Christmas sales.

The
Confederation of Indian Industry-ASCON also revealed that power cables and
circuit breakers have seen a growth rate of 10-20%.

However, the
automotive sector has not seen such positive figures, as low to negative growth
rates have occurred in passenger cars, utility vehicles, tyres and commercial
vehicles. On the contrary, two and three wheelers grew.

A separate
report by Ficci has alluded to moderation in the growth of the manufacturing
industry in the October–December quarter compared to July–September.

Of the
respondents working in 13 manufacturing sectors, it was found that those
anticipating an increase in production in the October–December quarter have
fallen to 52% from 62% last year.

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